Welcome to our page that provides a comprehensive Contract For Deed Template
tailored for Connecticut. An essential part of any real estate agreement
, this contract for deed, otherwise known as a deed contract
, land contract
, installment sale agreement, or owner financing agreement, outlines the terms between buyer and seller in a property transaction. It provides an efficient method for securing a lease-purchase agreement and can alleviate complexities in the land installment contract process. Feel free to download, edit and tailor this purchase agreement to your specific needs.
On this page, we prioritize your understanding of the real estate contract framework while ensuring seamless execution of your property transactions.
Remember, navigating through any form of real estate deal – whether it’s owner financing or a straightforward purchase – is made easier using our Contract for Deed Template.
CONTRACT FOR DEED
THIS AGREEMENT made this ________ day of ________, 20____, by and between ______________________ [Seller’s Name], of ______________________ [Seller’s Address], hereinafter referred to as “Seller”, and ______________________ [Buyer’s Name], of ______________________ [Buyer’s Address], hereinafter referred to as “Buyer”.
1. PURCHASE AND SALE
The Seller agrees to sell and the Buyer agrees to buy the property located at ______________________ [Property Address], County of ______________________ [County], State of Connecticut, subject to the terms and conditions herein set forth.
2. PURCHASE PRICE
The purchase price is $______________________ [Purchase Price] which will be paid by the Buyer to the Seller in equal monthly installments of $______________________ [Monthly Installment Amount] each, inclusive of interest at the rate of ______________________ [Interest Rate] per annum.
3. DEED AND TITLE
Upon receipt of the final payment, the Seller agrees to convey a good and marketable title to said property by a warranty deed free and clear of all liens and encumbrances except as otherwise provided in this contract.
4. POSSESSION AND OCCUPANCY
Buyer will be entitled to possession and occupancy of the property upon execution of this contract and making the initial payment.
5. TAXES AND ASSESSMENTS
All taxes and assessments levied against the property which are due and payable shall be paid by the ______________________ [Buyer/Seller].
The property shall be kept insured by the ______________________ [Buyer/Seller] against loss by fire and other hazards included in a standard extended coverage endorsement for the benefit of all parties until the purchase price is fully paid.
The ______________________ [Buyer/Seller] shall maintain the property, keeping it in as good condition as it was on the date of execution of this contract, normal wear and tear excepted.
If the Buyer fails to comply with any of the terms and conditions of this contract, the Seller may, after giving proper notice to the Buyer, declare this contract to be in default.
9. GOVERNING LAW
This contract shall be governed by and construed in accordance with the laws of the State of Connecticut.
10. ENTIRE AGREEMENT
This contract contains the entire agreement of the parties and there are no other promises, conditions, understandings or other agreements, whether oral or written, relating to the subject matter of this contract.
IN WITNESS WHEREOF, the parties have executed this contract as of the date first above written.
________________________ [Seller’s Signature] Date: ________
________________________ [Seller’s Name, Printed]
________________________ [Buyer’s Signature] Date: ________
________________________ [Buyer’s Name, Printed]